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Checks given for payday loans are generally post dated.
This means if the money is not there for the loan to be paid it is considered fraud and a crime.
Also if the check is a rubber check or fake.
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∙ 14y ago
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Where do I get information on secure payday loans?
If you want to get payday loan, but concerned about safety then you don't need to worry. Payday are secure payday loans and to get information on it you can check www.nationalpayday.com/.
In a payday loan what is considered collateral?
Post dated check.
Are online payday loans real?
Yes, payday loans are real and short term loans. All website are not secure. You can check website url, if you found "https" then it is secure with SSL certificate. And if it is only "http" then it is not secured.
Where can one find information on no credit check payday loans?
There are various places online where one could find information on no credit check payday loans. Websites such as Credit, Advance Me Today and Payday Wad all provide this information.
Can you prosecute a hot check on a payday loan in Arkansas?
If the check was rendered by the account holder with the knowledge that it was invalid then it could be considered a criminal offense. If it was a genuine mistake it is considered a civil matter and generally the perpetrator is given the opportunity to make the IF check "good" before any prosecutorial action is taken.
Can you prosecute a hot check on payday loan in Texas?
can you prosecute a hot check on payday loan
Can you be charged with check fraud for not paying a payday loan?
No. If your state allows payday lending, then they might be able to sue you for default, but that's it. I'm assuming you took out an internet payday loan. It's illegal for them to tell you that you can be charged criminally. The only exception would be if you went to a storefront and actually wrote a check, and it bounced. Then they could charge you with a bad check. If you did it on the internet, you never wrote a check. It's not the same thing. The most they could do is sue you civilly, and that's if your state allows payday lending. Many states have made payday lending illegal. Check with your state Attorney Generals office or financial regulator to get more info on your state and payday loans. Also check out the Fair Debt Collection Practices Act (FDCPA). This Federal law explains why they can't threaten you criminally. You may be entitled to sue them. A consumer rights attorney could help you with that.
Does defaulting on a payday loan constitute check fraud?
Defaulting on a payday loan does not, in and of itself, constitute check fraud.
Are there any legitimate companies that offer payday loans?
There are many sites that offer payday loans that are secure and legit. The best way to find a reputable payday loan site is to do a search on the Better Business Bureau site or find a forum online that discusses payday loan companies that others have tried. Also, if submitting your information online is uncomfortable to you there's always payday loan companies that you can just walk into such as Check into Cash.
Can you get help if you cant pay back your payday loans?
You need to check your state laws. Some states have made payday lending illegal. At most, if your state allows payday loans, then you could be sued civilly for default. They cannot arrest you or make threats of such. Your state attorney generals office or financial regulator could help you find out the legality in your state. Be wary of payday loan consolidations. They can be shady. Check them out first with the BBB and see what they say about them. Often, payday lenders will still try to collect from you even if you do get consolidation help.
What is meant by the term payday loan no credit check?
The term "payday loan no credit check" means that the payday loan you request does not require a check that you and the company you recieve the loan from both have enough credit to carry out the transaction.
What happens of you don't pay back a payday loan in Texas and you gave a post dated check?
If you gave a post-dated check and there is enough money in your account when the lender attempts to cash the check, you will effectively be paying back the loan. If your account does not have enough money at the time the payday lender attempts to cash your check, you will likely be hit (by your bank) with a Non-Sufficient funds fee, which you will HAVE to pay, regardless of whether or not you pay the payday loan back. In general, most payday lenders will attempt to collect the debt and will not sue you for the balance, however, providing ANY check in Texas and intentionally not having funds in the account is considered fraud. The payday lender, in this case, may "whisper in someone's ear" that you gave a bad check, which could result in fraud charges by the state. On the bright side, if convicted of fraud, the payday lender will likely leave you alone since you will have little recourse to pay.
